Digitalisation of banking: new challenges and opportunities

Abstract

Increasing the share of digital business is the key to survival for banks. Digital
technologies have radically transformed the banking business over the last 10 years. The paradigm
of customer-bank interaction has changed, and digital channels (mobile banking, internet banking,
etc.) have not only become the main means of customer-bank interaction for daily tasks, but also for
processing complex products such as loans and mortgages. At the same time, the high cost of new
technologies, as well as the risks associated with the lack of readiness of many economic entities for
full-scale digital transformation, require a comprehensive vision and deep understanding of the
digitalisation process when making managerial decisions, including in the financial sector.